Well, that wasn’t supposed to happen…
Following the ECB’s statement confirming further tapering of its QE program and and end to net buying by December, Bund yields and the Euro briefly spiked higher… however, just as we noted in the preview ” That said, when everyone is confident that one thing will happen, don’t be surprised to see the EUR tumble…” it appears the positioning is backfiring and investors are selling the news in Euro…
and buying it in Bunds…
Of course, the machines in ‘Murica could not resist using this ‘event’ as an excuse to ignite some momo…
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